Schwab Enhances Trading Platform and Lowers Options Fees as Interest in Options Trading Surges

Schwab Enhances Trading Platform and Lowers Options Fees as
Interest in Options Trading Surges
Online Options Fees Now as Low as $9.95 Plus 75 Cents per Contract



SAN FRANCISCO, May 26  /PRNewswire-FirstCall/ -- In the midst of a surge of
interest in options by active traders, Charles Schwab & Co., Inc. today
announced upgrades to its popular StreetSmart Pro trading platform and further
reductions in its fees for qualified options traders.

"Our clients want tools and a powerful trading platform that can be easily
customized to suit their trading styles," said Jeffrey M. Lyons, president,
Active Trader at Schwab.  "Our latest platform enhancements really set us apart
from the competition by combining industry-leading trading technology, low
commissions, dedicated options support and comprehensive educational services."

Lyons noted overall trading continues to be strong, with options playing a big
part. Daily average options revenue trades for Q1 2005 increased by over 54
percent compared with Q3 2004 when Schwab last updated its options trading
platform.

Beginning Friday, Schwab will lower online options fees to $9.95 per trade plus
$0.75 per contract (reduced from $0.95 per contract) for retail clients who
place 30 or more total equity and options trades per quarter or with household
assets of more than $1 million. In addition, Schwab will reduce online options
fees to $9.95 per trade plus $0.95 per contract (reduced from $1.40 per
contract) for retail clients who place between 9-29 trades per quarter or with
household assets between $50,000 and $1 million.

StreetSmart Pro, Schwab's premier trading software, features a series of
enhancements that include more sophisticated, multi-leg options strategies for
advanced options traders, in addition to offering streaming quotes and news,
interactive charting, and premium research. The advanced options functionality
will be integrated into the StreetSmart Pro platform and will be available in
July 2005.

  Advanced Options Functionality
  -- Multi-Leg Options -- place multi-leg options strategies in a single
     order from an integrated trading screen
  -- Top 10 Lists -- gain greater insight into the options market by sorting
     for the highest ranking put/call volumes, percentage gains/losses, or
     advancers/decliners
  -- Real-Time Option Chains -- view real-time, streaming options chains and
     enter your strategies all from the same window
  -- Greeks -- instantaneously monitor Delta Gamma, Theta, Vega, Rho and
     Implied volatilities in real-time while trading your strategies
  -- Pricing Models -- calculate an options price and Greeks in real-time
     with the Hypothetical Pricing Model

  Options Trading Expertise & Educational Support


Dedicated options specialists at Schwab work directly with clients to provide
guidance on options trades, hedging techniques and technical and fundamental
analysis. Clients can place options trades directly through the specialists for
only $30 additional per trade. Schwab also offers full educational support
hosted by some of the most respected names in the industry. Clients receive
24-hour access to free online seminars, workshops and courses on topics ranging
from risk management and options strategies to candlestick charting and
technical analysis. Since November 2004, more than 1,000 clients and prospects
have participated in Schwab's new online options educational seminars.

"I've been a Schwab client for almost 10 years and have been an active trader
for 8 years now," said Larry Dunne from Alabama. "At Schwab, there is a
knowledgeable options team that assists me with even the most complex options
strategies. I consider them problem solvers and the number one reason why I
continue to trade options at Schwab."

  About Schwab Options Services
  -- Schwab Option Specialists to assist clients, as well as trading
     specialists available 24 hours by 7 days a week
  -- OptionBuilder(R) online tool makes it easy for traders to build,
     research and trade multi-leg options strategies
  -- Spread Search, an enhanced online option tool that help traders
     identify and execute simple to complex option strategies
  -- Streaming Greeks and Options Pricing Tools help traders evaluate and
     forecast option behavior and test trade strategies
  -- A variety of educational programs and tools, including online options
     seminars available on Schwab.com
  -- Account flexibility, including the ability to trade long options in IRA
     accounts



For more information about Schwab's options trading products and services,
please visit http://www.schwabat.com/options

About Charles Schwab

The Charles Schwab Corporation (NYSE / Nasdaq: SCH), through its operating
subsidiaries, provides securities brokerage and financial services to
individual investors and the independent investment advisors who work with
them. With over 7 million individual investor accounts and more than $1
trillion in client assets, The Charles Schwab Corporation is one of the
nation's largest financial services firms. Its subsidiary Charles Schwab & Co.,
Inc. (member SIPC) provides a complete range of investment services and
products, including an extensive selection of mutual funds; financial planning
and investment advice; retirement plans; referrals to independent fee-based
investment advisors; and custodial, operational and trading support for
independent fee-based investment advisors through its Schwab Institutional
division. Its subsidiary Charles Schwab Bank (member FDIC) provides banking and
mortgage services and products. The corporation's other operating subsidiaries
include U.S. Trust Corporation (member FDIC) and CyberTrader(R), Inc. (member
SIPC).  These companies' Web sites can be reached at http://www.schwab.com/,
http://www.schwabbank.com/, http://www.ustrust.com/, and
http://www.cybertrader.com/. 

DATASOURCE: Charles Schwab



CONTACT:  Emily Kao of Charles Schwab, [phone], or

; or Mike Boccio of Intermarket Communications,

[phone], or , for Charles Schwab



Web site:  http://www.schwab.com/

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